REDASON: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
REDASON
NACE 68.110, Buying and selling of own real estate
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€139,928
2023 · €337,747-€197,819
Equity
€1.4m
2023 · €1.3m+€139,927
Cash
€5,873
2023 · €6,131-€258
Balance sheet total
€15.8m
2023 · €15.9m-€40,640
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€765,475
up €765,475 (+79.5%), from €962,432 to €1.7m
- Short-term financial debts -€725,186
down €725,186 (-5.9%), from €12.3m to €11.6m
- Debts after one year -€239,525
down €239,525 (-28.1%), from €851,892 to €612,367
of which Financial debts: -€239,526
Income statement
- Taxes +€132,951
up €132,951 (+196.7%), from €67,586 to €200,537
- Gross operating margin -€124,115
down €124,115 (-7.2%), from €1.7m to €1.6m
- Financial charges -€55,652
down €55,652 (-13.1%), from €426,301 to €370,649
From the 2023 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2023
€337,747
Gross operating margin
-€124,115
Depreciation
+€5,090
Other operating charges
-€11,573
Other operating items
-€400
Financial income
+€10,478
Financial charges
+€55,652
Taxes
-€132,951
Result 2024
€139,928
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.6m
Investment
-€712,727
Financing
-€904,299
Cash 2023
€6,131
From operations (derived)
+€1.6m
Net result for the year
+€139,928
Depreciation
+€773,700
Receivables within one year
-€20,592
Trade debts
-€133,043
Tax, wage and social debts
+€91,299
Other debts
+€765,475
Investment (derived)
-€712,727
Investment in fixed assets (net)
-€712,727
Financing
-€904,299
Debts after one year
-€239,525
Current portion of long-term debt
+€60,413
Short-term financial debts
-€725,186
Contributions, distributions and other
-€1
Cash 2024
€5,873
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,879,337 | €15,838,697 | -€40,640 | -0.3% |
| Fixed assets | 21/28 | €14,832,102 | €14,771,128 | -€60,974 | -0.4% |
| Tangible fixed assets | 22/27 | €14,832,102 | €14,771,128 | -€60,974 | -0.4% |
| Land and buildings | 22 | €14,805,501 | €14,771,128 | -€34,373 | -0.2% |
| Plant, machinery and equipment | 23 | €8,906 | - | -€8,906 | |
| Other tangible fixed assets | 26 | €17,694 | - | -€17,694 | |
| Current assets | 29/58 | €1,047,236 | €1,067,569 | +€20,333 | +1.9% |
| Amounts receivable within one year | 40/41 | €1,041,104 | €1,061,696 | +€20,592 | +2.0% |
| Trade receivables | 40 | €7,808 | - | -€7,808 | |
| Other amounts receivable | 41 | €1,033,296 | €1,061,696 | +€28,400 | +2.7% |
| Cash at bank and in hand | 54/58 | €6,131 | €5,873 | -€258 | -4.2% |
| Total equity and liabilities | 10/49 | €15,879,337 | €15,838,697 | -€40,640 | -0.3% |
| Equity | 10/15 | €1,281,859 | €1,421,786 | +€139,927 | +10.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €251,763 | €251,762 | -€1 | 0.0% |
| Non-distributable reserves | 130/1 | €124,421 | €124,421 | -€0 | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €111,921 | €111,921 | -€0 | 0.0% |
| Distributable reserves | 133 | €127,341 | €127,341 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €905,096 | €1,045,024 | +€139,928 | +15.5% |
| Amounts payable | 17/49 | €14,597,478 | €14,416,911 | -€180,567 | -1.2% |
| Amounts payable after more than one year | 17 | €851,892 | €612,367 | -€239,525 | -28.1% |
| Financial debts | 170/4 | €844,810 | €605,284 | -€239,526 | -28.4% |
| Other amounts payable | 178/9 | €7,083 | €7,083 | +€1 | 0.0% |
| Amounts payable within one year | 42/48 | €13,745,586 | €13,804,544 | +€58,958 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €270,530 | €330,943 | +€60,413 | +22.3% |
| Financial debts | 43 | €12,330,566 | €11,605,380 | -€725,186 | -5.9% |
| Credit institutions | 430/8 | €12,330,566 | €11,605,380 | -€725,186 | -5.9% |
| Trade debts | 44 | €182,058 | €49,015 | -€133,043 | -73.1% |
| Suppliers | 440/4 | €182,058 | €49,015 | -€133,043 | -73.1% |
| Taxes, remuneration and social security | 45 | - | €91,299 | +€91,299 | |
| Taxes | 450/3 | - | €91,299 | +€91,299 | |
| Other amounts payable | 47/48 | €962,432 | €1,727,907 | +€765,475 | +79.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €778,790 | €773,700 | -€5,090 | -0.7% |
| Other operating charges | 640/8 | €119,667 | €131,240 | +€11,573 | +9.7% |
| Non-recurring operating charges | 66A | - | €400 | +€400 | |
| Gross operating margin | 9900 | €1,729,453 | €1,605,338 | -€124,115 | -7.2% |
| Operating profit (loss) | 9901 | €830,996 | €699,998 | -€130,998 | -15.8% |
| Financial income | 75/76B | €638 | €11,116 | +€10,478 | +1642.8% |
| Recurring financial income | 75 | €638 | €11,116 | +€10,478 | +1642.8% |
| Financial charges | 65/66B | €426,301 | €370,649 | -€55,652 | -13.1% |
| Recurring financial charges | 65 | €426,301 | €370,649 | -€55,652 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €405,332 | €340,465 | -€64,867 | -16.0% |
| Income taxes | 67/77 | €67,586 | €200,537 | +€132,951 | +196.7% |
| Profit (loss) for the period | 9904 | €337,747 | €139,928 | -€197,819 | -58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €337,747 | €139,928 | -€197,819 | -58.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.